Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster
Davis Motor Sales banner ad

Dave Says - April 28, 2013

davesays300 greenKENTUCKY (4/28/13) – This week Dave discusses Starting over after divorce and Should she have skin in the game?
 
Dear Dave,
My divorce will be final in a month, and I’ll have $100,000 when everything is over. I will also have $8,000 in credit card debt, and I’m currently unemployed. Do you have any suggestions to help me move forward? - Meryl

Dear Meryl,
The first thing I want you to do is raise your right hand and promise never to use credit cards again. Then, if you still have any of those awful things, I want you to cut them up and close out the accounts. The next step is for you to find some kind of income, whether it’s a regular job or just something part-time to get money rolling in on a regular basis.

Your credit card debt is a small part of your financial picture right now. I think I’d go ahead and pay off the cards. That way, you’ll be debt-free and still have $92,000 in the bank. But here’s the key. You have to live like that money doesn’t exist. Use just enough to get yourself settled, and go make some money so you can eat and keep the lights on.

A year from now, when you’re past some of this stuff emotionally and looking toward a new future, that money will still be sitting there. As long as you have this mentality, you’ll come through this mess stronger and in good financial shape. God bless you, Meryl! - Dave

Dear Dave,
My daughter has the opportunity to take a trip with her eighth-grade class. The cost is $650. Do you think she should have to contribute to the cost of the trip, or should I cover it all? - Colleen

Dear Colleen,
This is a really good question. When it came to making these kinds of decisions at our house, we’d take a look at whether the kid was behaving, getting good grades and stuff like that. It can be a challenge at that age, I know. But if they were living like responsible young people, we would pay for this sort of thing as a reward.

Still, at that age a kid should definitely have some skin in game. If you can pay for this without breaking the bank, and she’s fulfilling her responsibilities as a good kid, it would be a good idea to make her come up with her own spending money for the trip. You don’t want her to grow a sense of entitlement, and doing this would force her to work and save a little bit to make this thing happen! - Dave

* Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

 

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Posted on 2/2/14
2/6/2014 - posted
3/13 - 16
button coupons
2/6/2014 - posted
3/13 - 16
2/6/2014 - posted
3/13 - 16
button classifieds
2/6/2014 - posted
3/13 - 16

Most Read This Week

December 24, 2014 12786

Christmas Eve Bloody Brawl Erupts on Dulin Street

in Local (Hopkins) Top News by Doreen Dennis
December 25, 2014 8823

Gift Returns Done Right

in General News For All Sites by SurfKY News
December 25, 2014 6323

Arrests Made After Dulin Avenue Christmas Eve…

in Local (Hopkins) Top News by Officer C.P. Haynie
December 25, 2014 4531

Crime Stoppers Top Most Wanted - December 25, 2014

in Video by Crime Stoppers
December 23, 2014 4175

Couple's Alleged Dispute over Blanket Leads to…

in Local (Hopkins) Top News by Madisonville Police Department
December 22, 2014 4067

Madisonville Police Arrest Reports - Dec. 22, 2014

in Hopkins News by Madisonville Police Department
December 23, 2014 3646

Alleged Theft at Walmart Sends Two to Jail

in Local (Hopkins) Top News by Madisonville Police Department
December 23, 2014 3262

Disturbance Results in Vehicle, Foot Pursuit,…

in Local (Hopkins) Top News by Officer Tyler Russell
December 26, 2014 3078

5-Year-Old Boy Kills Buck/Doe

in Local (Muhlenberg) Top News by Randy Adams
December 26, 2014 3067

2014 Looking Back: World Mourns Watson Family…

in Top News For All Sites by Paul McRee, SurfKY News

Stories Trending Today

December 27, 2014 2313

John Prine to be Recognized at Grammy Awards

in Top News For All Sites by Paul McRee, SurfKY News
December 27, 2014 1883

2014 Concludes with Record Investments for…

in Top News For All Sites by Angela Blank
December 27, 2014 1367

Four Time Management Tips for the New Year by…

in General News For All Sites by David Taylor
December 26, 2014 1341

Simple Ways to Maintain Your Mental Acuity

in General News For All Sites by SurfKY News
December 27, 2014 1172

How to Live as a One Income Family

in General News For All Sites by SurfKY News
December 27, 2014 1164

The Dangers of Belly Fat

in General News For All Sites by SurfKY News
December 27, 2014 1140

Women's Heart Attack Symptoms Can Differ from…

in General News For All Sites by SurfKY News
December 27, 2014 1125

What to Look for in An Investment Property

in General News For All Sites by SurfKY News
December 28, 2014 1111

Patriot to Idle Two Mines Tomorrow; 600-700 Jobs…

in Top News For All Sites by Rita Dukes Smith, SurfKY News Director
December 27, 2014 1061

Keeping the Faith - 'The Puzzles of the Past'

in General News For All Sites by Ronnie McBrayer

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flrsocial rss